News in Brief
Oil prices slip
CNBC – Oil prices were down on Monday as concern over rising interest rates, the global economy and the outlook for fuel demand outweighed the prospect of tightening supplies.
Brent crude slipped 86 cents, or 1.1%, to $82.52 a barrel by 1415 GMT. U.S. West Texas Intermediate crude was down 83 cents, or 1.1%, at $78.70.
Both contracts fell more than 5% last week for their first weekly declines in five as U.S. implied gasoline demand fell from a year earlier.
Argentina to launch lithium project
AFP – In Argentina’s mountainous north, a strong pipeline of lithium projects close to coming online looks set to unlock a wave of production that could see its output of the key electric vehicle battery metal as much as triple within the next two years.
The world’s fourth largest producer of the silvery-white metal sits within the so-called “lithium triangle” and has been luring investment from Canadian to Chinese mining firms with a regional and market-led model, even as a wave of resource nationalism has spread in the region.
Türkiye
year-end inflation seen at 46%
REUTERS – Turkish inflation will dip to 46.4% by end-2023, a Reuters poll showed on Monday.
Türkiye’s consumer price index surged in the wake of a currency crisis sparked by an unorthodox easing cycle in late
2021.